Practice Finance for Solicitors
Solicitors and law firms often require funding that reflects complex partnership arrangements, capital accounts and regulatory obligations. Generic business lending does not always fit these requirements.
We specialise in arranging finance for solicitors, whether funding is required at an individual partner level or for the practice as a whole.
Who This Is For
This page is relevant if you are:
- A solicitor joining or exiting a partnership
- An existing partner requiring capital
- A firm managing tax, VAT or insurance costs
- A practice acquiring another firm or goodwill
Common Uses Of Finance
Solicitors commonly use practice finance for:
- Partner buy-in or buy-out
- Practice acquisition or merger
- PII premium funding
- Corporation tax or VAT liabilities
- Working capital and cashflow management
HOW THE PROCESS WORKS
Initial discussion
We discuss the structure of the firm, the purpose of funding and timescales. This does not impact your credit score.
Lender matching
We approach suitable lenders experienced in solicitor practice finance.
Review of information
We review accounts, management figures, partnership structures and existing commitments.
Completion
Once terms are agreed, funding is documented and completed.
Typical Amounts And Terms
- £10,000 to £500,000+
- Terms from 12 months to 7 years
- Often unsecured
- Personal guarantees may be required
What Lenders Look For
- 2–3 years’ accounts
- Stable fee income
- Partnership structure and drawings
- Existing borrowing and commitments
Documents Typically Required
- Latest full accounts
- Recent management figures (if available)
- Partner details and ownership
- Purpose of funding
- PII schedule (where relevant)
Risks And considerations
- Personal guarantees may be required
- Early repayment charges may apply
- Unsecured lending can carry higher interest rates
- Some lending is unregulated
Frequently Asked Questions
Get answers to the most common questions about our practice finance solutions, application process, and tailored funding options for professional practices.
Is solicitor practice finance regulated by the FCA?
Some lending is unregulated. We explain clearly whether a facility is regulated before you proceed.
Can a new partner obtain finance for a buy-in?
Yes, subject to experience, affordability and the firm’s performance.
Will all partners need to give guarantees?
Not always. This depends on the lender and structure.
Can funding be used for goodwill?
Yes, where supported by valuation and accounts.
Does applying affect my credit score?
Initial discussions and lender enquiries are usually soft searches.
How long does the process take?
Timescales vary, but many cases complete within days to weeks.
Grow Your Practice with Confidence
Speak to a specialist who understands solicitor practice finance. A short initial conversation will confirm whether funding is suitable.
